Beijing Auto Show proves China's attractiveness to global investors: spokesman

The 2024 Beijing International Automotive Exhibition (Auto China 2024) proves China's continued attractiveness to global investors, said Ministry of Foreign Affairs spokesman Lin Jian in Beijing on Tuesday.

Lin made the remarks at a regular press briefing in response to a question on the ongoing Auto China 2024, which is taking place in the Chinese capital city from April 25 to May 4. "More than 1,500 Chinese and foreign companies have gathered at the Beijing International Automotive Exhibition (Auto China 2024). Many world-known automakers have shown up with new products and technologies. Chinese and foreign customers and exhibitors have come to the booths of Chinese car makers in a steady stream. Statistics show that the Auto China 2024 is showcasing 278 new energy vehicle models and 117 global premieres, including 30 premieres by multinational companies. We also noticed that Germany's Volkswagen and BMW have recently announced respectively to scale up investment totaling 5 billion euros in China and increase input to produce electric and smart vehicles. These facts and statistics not only reveal global automakers' optimism for the growth potential of China's mega-sized market and their confidence in China's development outlook, but are also the most convincing argument against the so-called 'overcapacity' in China," Lin said.

"As Premier Li Qiang stressed when visiting the exhibition, China and global NEV markets are growing steadily and there is plenty of room for market demand. Intelligent connected NEVs are to some extent the product of global industrial cooperation. The future of NEVs relies on various parties leveraging their respective advantages and deepening the division of labor and collaboration. China will further build a unified national market, pursue higher-standard opening up, keep easing market access, and advance the liberalization and facilitation of trade and investment. We will continue to treat Chinese and foreign-funded businesses as equals, and promote more extensive exchange and cooperation between Chinese and foreign automakers in capital, technology, management and human resources. They are welcome to share in China's market opportunities, grow together in technological and industrial revolutions, and achieve mutual success," said Lin.

"We are confident that foreign businesses will continue to stay, invest and flourish in China. China will not slow down efforts to provide an even better business environment and stronger, more integrated support for foreign businesses. China will only open its door even wider to the world," Lin said.

Beijing Auto Show proves China's attractiveness to global investors: spokesman

⁠⁠⁠⁠⁠⁠⁠China's service outsourcing industry saw robust expansion in the first four months of this year, the Ministry of Commerce said on Tuesday.

Chinese firms inked services outsourcing contracts worth a total of some 781.43 billion yuan (about 110 billion U.S. dollars) in the four-month period, up 14.4 percent year on year, according to the ministry.

The executed contract value stood at 520.51 billion yuan, a year-on-year increase of 12.9 percent.

Of the total, the value of offshore service outsourcing contracts rose 8.6 percent year on year to 419.04 billion yuan.

Specifically, the value of offshore information technology outsourcing (ITO) services provided by Chinese companies jumped by 10.9 percent from a year earlier.

China's Hong Kong Special Administrative Region, the United States and the European Union ranked the top three markets in terms of the fulfilled contract value of offshore outsourcing service, accounting for 54 percent of the total.

Chinese firms undertook nearly 80 billion yuan(about 14.93 billion U.S. dollars) worth of offshore service outsourcing contracts that were fulfilled with countries participating in the Belt and Road Initiative, up 24 percent from a year ago, while the offshore outsourcing services for Regional Comprehensive Economic Partnership (RCEP) member countries totaled 73.26 billion yuan, up 16.6 percent year on year.

Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees. In China, service outsourcing is typically divided into three sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.

In the January-April period, the service outsourcing industry welcomed about 301,000 new hires, with 84.7 percent of these individuals holding a bachelor's degree or above. The sector had over 16.17 million employees at the end of April, among whom some 10.56 million were graduates with a bachelor's degree or higher.

China's service outsourcing industry reports robust expansion